But the expected price tag on one of Apple's new Watches is far from wallet-friendly.

At $10,000, the 18-carat gold, sapphire and crystal Apple Watch Edition being launched on Monday would be the firm's most expensive product since the $10,000 Lisa computer in 1983, developed by Steve Jobs, which was poorly received.

It is the first new innovation to come from Apple since Jobs died in 2011, and will be unveiled by chief executive Tim Cook on Monday.

Analysts have branded the move a clear attempt to segway into Asia's booming luxury goods market - and suggest it could be the start of an entirely new market.

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Luxury: The Apple Watch Edition is 18-carat gold, sapphire and crystal, priced at a reported $10,000

'Elegant curve': A luxury goods analyst for Sotheby's said the design looks promising as a high-end product

Launch: Tim Cook will unveil the new Apple Watch Edition, plus two others, on Monday

'Apple is the only technology brand that has the potential to move from tech brand to luxury brand. This is unprecedented,' Jan Dawson, chief technology analyst for Jackdaw Research, told DailyMail.com.

'I think this is Apple flexing its muscles, moving into a space that it potentially has all to itself.

'The question is: how big is that market? Is Apple eating into the market or making it bigger?

'I think they will make it grow.'

Cook is expected to explain in detail how customers will use the buttons on the side of the device to operate the apps on the screen like an iPhone.

At the other end of the spectrum, customers can opt for a midrange watch or an 'entry-level' Watch Sport, starting at $349 - a fraction of most watch prices on the market.

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The move into this market comes months after Apple poached Burberry's CEO Angela Ahrendts to be the new Senior Vice President of retail and sales - and lend a fashionable eye.

Alongside Yves Saint Laurent's Paul Deneve, as a 'special projects' Vice President, and designer Marc Newson, as a part-time consultant, the team has masterminded the firm's unprecedented move.

Big move: The products will be the first new innovations to come from Apple since Steve Jobs died in 2011

Wearables: Analysts say the shift into wearables will be a major breakthrough for the firm targeting China

In October, a prototype of the Edition Watch even appeared at Paris Fashion Week.

However, some have speculated that without a solid grounding in the high-end retail market, the Apple Edition Watch could suffer the same flaws as most iPhones, which cease to efficiently function after a few years.

But according to Thomaï Serdari, Luxury Brand Strategist and Lecturer at Sotheby’s Institute of Art in New York, the details of the Edition model that have been released look promising.

She told DailyMail.com: 'Apple produces good design, and I hate to say it but good design is priceless.

'From what I have seen, the gold watch has a very elegant profile. The very slight curve shows that the design has been very well studied to fit on your wrist. I am curious to see how it actually feels.

'I wouldn't be surprised if customers have the option of keeping the strap and the casing but updating the software, which would create loyalty and longevity.'

Serdari, who also lectures on product and fashion design at NYU, notes that Apple is following the classic launch strategy of designer brands like Chanel, which uses pricing to carve a position in the market.

'Chanel targets a broad market and in order to maintain the air of luxury increases the prices often very steeply.

Shoe-in: Apple poached Burberry's CEO Angela Ahrendts to help make a play for the fashion world

Fashionable: Yves Saint Laurent's Paul Deneve (left) and designer Mark Newson (right) also worked on it

'If the watch is $10,000, it would be a great way for Apple to differentiate itself from the gadget-based market, which is highly competitive.

'In my opinion, Apple is very well positioned to make the transition to move up.'

If successful, the Edition Watch could act as a springboard for Apple to rocket into its bulls-eye: China.

Tim Cook has repeatedly remarked that he predicts China to eventually overtake America as their biggest market.

The popularity of the iPhone 6 drove the firm's market share in China to a record high, reaching 25.4 per cent by January 2015 - clouding out Samsung as the country's second-largest seller.

However, Xiaomi - widely dubbed 'the Apple of China' - remains firm with 27.6 per cent of the market.

Venturing into watches and potentially other wearables, with Ahrendts at the helm, could be the leap that clinches it.

Dawson said: 'They could really move into anything - necklaces, bracelets, brooches... It's not clear how those might feature a screen to function in the way that a watch does. But Apple is certainly in a position to try.'